European stock markets down, dragged by Wall Street losses
The main European stock markets were down today, dragged down by the significant falls on Wall Street the day before, due to market doubts regarding the monetary policy of the US Federal Reserve (Fed).
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Economia Bolsas
Lisbon, May 24, 2024 (Lusa) -- The main European stock exchanges were down today, dragged down by the significant falls on Wall Street the day before, due to market doubts about the monetary policy of the US Federal Reserve (Fed).
The London, Paris and Frankfurt stock exchanges fell by 0.65%, 0.46% and 0.69%, while those in Madrid and Milan fell by 1.07% and 0.89%.
After opening in decline, the Lisbon stock exchange maintained the trend, with the main index, the PSI, falling by 0.29% to 6,904.87 points at 08:55.
The European stock exchanges were in negative territory, affected by the 1.53% fall registered the previous day by the main Wall Street index, the Dow Jones, in what is the worst session in 2024.
The Dow Jones ended down 1.53% to 39,065.26 points, against a new high since its creation in 1896, of 40,003.59 points, seen on May 20, and the Nasdaq fell by 0.39% to 16,736.04 points against a new high of 16,632.63 points seen on May 21.
Despite the excellent results of the North American 'chip' manufacturer Nvidia and its rise on the stock market, a negative trend prevailed in the market due to doubts about whether the US Federal Reserve (Fed) will finally cut rates this year.
After the negative close in the United States, Asian markets also fell this morning (the Nikkei in Tokyo lost 1.17%, the Hang Seng in Hong Kong fell 1.63% and the Shanghai Stock Exchange 0.63%), as in Europe.
Today, investors will be watching the release of several macroeconomic data of interest, such as the final reading of GDP in the first quarter in Germany, retail sales in the United Kingdom and the preliminary reading of orders for durable goods in April in the US, where the consumer sentiment index also stands out.
The interest on the 10-year German bond, considered the safest in Europe, fell to 2.583%, against 2.595% on Thursday.
The barrel of Brent oil for delivery in July opened down today, trading at $81.28 on the Intercontinental Exchange Futures (ICE) in London, against $81.36 on Thursday.
On the foreign exchange market, the euro opened stable on the Frankfurt exchange, trading at 1.0818 dollars, the same value as at the close of the previous session.
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